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Stossel

What You Think You Know... News/Business. (2012)

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01:00:00

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San Francisco, CA, USA

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Comcast Cable

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Virtual Ch. 130 (Fox Business)

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mpeg2video

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ac3

PIXEL WIDTH
704

PIXEL HEIGHT
480

TOPIC FREQUENCY

Us 7, America 7, U.s. 2, China 2, Gaviscon 2, James Altucher 1, Carden 1, Eative 1, Carter 1, Jimmy Carter 1, Thomas Sargent 1, Thain 1, Abc 1, Harry Reid 1, Yo 1, Rahm 1, Epa 1, Sec 1, Charlemagne 1, Asia 1,
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  FOX Business    Stossel    What You Think You  
   Know...  News/Business.  (2012)  

    December 25, 2012
    9:00 - 10:00am EST  

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this mess now. >> >> you have to vote of. >> guy untold we all should
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go to. higher education is the single most important investment. >> i am told you should go to college. >> olympic clothing must be made in america. why do people freeload? what you think you know, often is not so. myth and truth. that is our show. tonight. john: what you think you know, may not be so? we know what. we watch tv while good what we know not be so? our instincts are often wrong.
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when i was a consumer reporter i thought consumer regulation was the answer. rahm. it hurts america of more. i thought america was running out of fuel, overpopulation, made in america. wrong. >> majority leader harry reid is upset the usoc bought uniforms from china. >> they should be burned and start over again. john: people are desperate for jobs. isn't it outrageous we buy uniforms made overseas? no. in this stupid. let me bring in professional help.
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why not to worry about sending work to other countries? >> a fundamental trade makes everybody off. it benefits both parties. john: they could have been made by american workers. >> but we are so much better at other things that making garments is not the comparative advantage. john: that is not a problem. those are factory jobs they're not so pleasant they're designed and marketed and sold and shippein trucks made on machines built by americans. the chinese olympic team will fly to london on the
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american planes and this makes us richard? >> people don't get that. one could argue the uniforms were not manufactured in china, but grown in the soybean market and i was. they get better wages we have lower prices. john: if made in america of people would be poor. another myth. overpopulation. asia is four. africa is for. >> the problem is not there are too many people but they don't have fried government's.
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look at the population data. i hear about nigeria because of of -- overpopulation. they have 174 people per square mile. that is half of the netherlands and they are rich. one-tenth of hongkong and singapore and they are really which. >> the resource is the mind. john: more people more brains. >> more people closer together means more conversations. john: i have been told we're running out of fuel. jimmy carter said that. it would have been within the next decade, 30 years ago. >> that implies a prices
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should be rising. of decades oil has been getting cheaper and cheaper. even if it does get cheaper people look for a substitute. they keep inventing new ways to take more oil. have much more stores of oil the out than president carter said. let's go to the myth of your personal choice. with talk about contrarian popular advice for un-schooling your kids who founded by james altucher. what do you mean by un-schooling? >> they are taught to go to
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the bathroom, walk, move, pay attention in the school. what do they remember? john: most people do not want to home school. we trust the experts. >> day are getting funding based on the lowest common denominator. you are chained to a desk. we have been there. when was charlemagne born? nobody can tell me. john: pull them out and put them with the neighbors and invent? >> give them opportunities. sports, jawi opportunities. nobody wants to listen to a lecture.
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i pay my kids to write books and -- read books and write reviews. said up play dates with other kids. we are cold -- told you have to go to college. this is a scam perpetuated with the students and colleges and banks. tuition goes up 1,000% while inflation has gone up 300%. if you had a five-year headstart and no student loan debt wih the same ambition? i am sure you would do better 20 years later. john: everybody should vote to. >> we live bid new york state.
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>> maybe four or five battleground states where but has s way. john: colorado nevada and mexico ohio, it could be the one-vote election. don't be so scared? >> everyday the worries about europe, greece, things are going pretty well in america. you would think it is a horrible obsession with the recession. we have a need to be scared. we always look out for the predator. but all the headlines suggest things are bad. >> what happened wih avian
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flu? >> you might have gotten brain cancer from yourself loan. and it could have been is one of the most dangerous praises, art carden? >> yes. people overestimate very, very small risk. the ada your child could be affected is what people worried about but if you were, he would never get to in the car again. the risk of driving a car is so much greater than a terrorist attack or ap did dollars -- obligee were driving into would year. john: it kill the 3,000. >> but then cost us
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$10 trillion and made of the world hates us now other issues are happening in the middle east. john: food for thoug
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john: thank goodness for government. there are some things i want my government to do. including not listed in the constitution the founders never thought about. pollution-control. the free-market isn't so
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good. why does the factory care about their smoke? we could sue the polluters but the legal system would take for ever and cost of fortune. think goodness for that epa. environmental protection agency. they made the air cleaner. when i was a kid we could not open the windows. now you can. the river outside the studio used to be disgusting. >> even here at the empire state building. i am willing to do this year millions of people fleshing. john the hudson is totally swimmable. the government has cleaned
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up that air and the water. but now they have accomplished that. but the government never shrinks they always want more and one medical doctor says that epa kills people wrote -- kills people and it is senator jn barrasso from wyoming. >> i came out with a report from the united states senate that red tape is making americans sec when people are out of work for a long period of time with 8 percent unemployment, more incidence of illness, and premature death because of the rules and regulations that are costly to our economy with little benefit
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to the environment. john: i came to the same conclusion but most people say what r-utah king about? it makes america cleaner. or reaction to unemployment making people sick? >> look at 40 years ago. the air and of water is cleaner. but now to get a small improvement is very expensive with energy and dollars and who fought. health. and a stroke, heart disease, depression, depress ion and cancer and a higher rate of suicide. john: that means the factory
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may not open and every business takes longer. money going to create new things goes to pollution-control. >> closes down coal-fired power plants. there has been 50. impact of that to on the community with those who have paid jobs the issue over 1300 regulations better economically significant. john: epa admits that but the cost is over $100 million per regulation but the benefits are so great which is a reduction of future health care cost.
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a cost is real but benefits are unknown but these people are out of work and we know people are made sick and the tests they cannot get back to work. >> the benefits of waiting early death far exceed the cost of the clean air rule. >> that is the made up number focused on small incremental improvements. we see people out of work have chronic long-term unemployment igh risk of heart disease, stroke, high blood pressure, police chief
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report higher incidence of spousal abuse and gas to do with the economy and unemployment. john: what do your colleagues say? >> those who practice medicine and take care of patients who have been out of work know that added stress. that epa follows said different drummer buying in twos the beliefs 57 the name of the show is what you think you know, may not be true people think they save us every day. >> senator barrasso, it shows he lives in the alternate universe.
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john: my neighbors in new york save best. >> burma it is the chair of the publicorks committee i am trying to have the republicans takeover the senate. she will not be the chairmen anymore. the extreme agenda will not be in charge. i want to get a healthy economy and environment and we can do both but the benefits are unknown we are not helping our country. john: more examples of what you think you know, may not be true. do you steel ever? my cameras catch people in my cameras catch people in the act.
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john: we all have biases but i believed scientists are special, us march, unbiased comment trustworthy. >> accurate, down to earth. >> nerdy. >> i know a lot of research scientist who are dry. >> my eight older brother is a scientist. he could be dry. hehe is weird and angry. thought of volatility is common author of free radicals.
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anarchy? michael brooks says that gives us scientific breakthroughs. >> anarchy. lying, cheating, taking drugs, all kinds of things go on. john: you say 1/5 scientist worldwide take drugs? >> that was self disclosure. they said they would be happy to do it occasionally for those who are more eative. they are well documented cases of people doing extraordinary things of. john: one did his work her on dna for that lsd?
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>> he said he could not have won the world price without taking lsd. it helped him, the dna. john: they break the rules. barry marshall who cured all sirs' realized it was bacteria and not stress broke what to rule? >> the ethical rule to do an experiment. to get preapproved all but to win his nobel prize he'd drink a cup full of bacteria and the colleagues had to go with it. "don't ask, don't tell". john: they took samples. he did not even tell his
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wife. john: but if they goodness. all of these people who were drinking milk ulcers are gone. john: talk about fighting, fraud, lies and deceit? >> there is deceit and fraud going on. 1/3 are committing research fraud. another survey disclosing for themselves. is what you have to do to get the job done. sedated is not replicate. your colleagues are out to get you. you have to work hard. john: my brother is upset about financial disclosure that if there is money to be
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made it by science. but we want to kill each other and my colleagues will run over their grandmother for the advancement. [laughter] >> absolutely. there is not very many rich scientist. you have your place in fame but it is the discovery. john: why don't people know about anarchy? >> it to tries to make itself look good. looking at the atomic bomb, experiments on prisoners of four it is in the name of science. the scientist for trusted they made sure they did not do anything to scare the public fish show themselves
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as trustworthy. we will not blow up the world. john: even know about -- albert einstein. >> i thought he proved the theory of relativity. >> he was brilliant. >> = mcs glared? >> not quite einstein. he owned it and tried to prove it eight times nd he even wrote that in the footnotes. let's go on anyway. his colleagues in new this. he covered every other thing in science but he left out the equals mc squared out. that shows you how he felt.
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john: do you cheat? ever? never? you lied to be polite. maybe you take home the pens from work. maybe not pey cash. where is the line? intuition tells us when the risk of being caught or the severity of punishment exceeds the benefit. the honest truth about dishonesty and a psychology professor at duke? >> it is just a small part of it.
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on one hand we want to be worth sells us on this. how could you o both? you can cheat and steal but for example, taking pencils from work? but money feels like stealing. >> expense reports? is a little easier. >> if you take the ball to move it 4 inches is a no-no. >> what is the psychological rationale? >> it was not me.
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>> everybody else is doing it idea. cheating is contagious? >> we teach them how to cheat to. when they say don't point*. >> your face was burned in the explosion. if i have on shorts it is clear. parents say don't do that. how is that embarrassing? >> it says don't say everything that is on your mind. don't be fully honest. john: doping in sports? >> we get the news reports
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for people who don't what do you think is acceptable? >> they are doing it and you are the sucker if you don't. >> one doctor says he has patience and the actual amount is lower than they believe. but they believe everybody is doing it. the same thing with illegal downloads. john: i tested this power once when i was on abc. i had the buffet society. >> it stood for some thain for nothing. wham chops, shrimp and fruit to people started to inspect the food.
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>> did people take the food? >> i would predict it is hard to be the firsterson. there is a signal nobody touched it. once it breaks down i predict people will run on to the above 87 exactly. after five minutes nobody touched it. they've respected other people's privacy. i thought i wasted money but some took and i confronted them. most were embarssed. >> this is for the sfn society. >> i am sorry. john: you can keep it. some were not ashamed. are you embarrassed? >> are you ashamed?
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>> i ate a couple. >> teachers are not paid enough. you know, that. >> that is their rationale? >> the insurance company cheated us and everybody does it. john: the group effect you tests did yourself? >> to take a sheet of paper and we don't give people the ninth time. as many as you can and five minutes i pay for performance. then use a stop and count. now go to the back of the room and shred the paper. john: total honor system. >> they destroy the evidence
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but on average of six problems. we can jump been to see. says shredder was tampered with. most people had four problems. with the group effected we hired an acting student. 30 seconds into the experiment -- experiment you know, people cheated. sometimes we paid them up front then they say you solve everything? take everything and go home. now it is egregious.
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one way you can say we prove you can get away with it. but in bet demonstration from the same social group, one of them was to change the outfit to of the acting student. as said carnegie-mellon student he wore that outfit but second university of pittsburgh. john: different school. >> they are called the out group. >> she being went down if it is somebody i do not like so much. john: what can we do to increase honesty? >> asking 500 students to recall ten commandments.
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they thought about it. giving them a chance nobody did. not that they remembered more but if they thought about them it stopped cheating. even in the acs to. john: think of morality and honesty. >> at least for a moment. therefore we behave better. >> thank you. coming up on what you think coming up on what you think you know, . ally bank. coming up on what you think you know, . why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years?
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no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally.
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n't focus. i was always interrupting my teammates. earlier in my career, my coach approached me. he said, "i think that, you know, sometimes i don't feel like you're focused." so the next day, i went and saw a doctor. it was my adhd. like many kids with adhd, i didn't outgrow it. if you were diagnosed with adhd as a kid, you might still have it. find out more. take a quiz at ownitquiz.com to help recognize the symptoms. then talk with your doctor. it's your adhd. own it. john: it is forest fire season. fires are raging, destroying
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homes, who leads the fight? the u.s. forest service spending billions fighting fires to spray emicals. fire retardant to slow the spread. that is what they do. they would be careful to use the right kind. is one more government bureaucracy after all. how often does government adopt the latest techniques or change? not often. i am not surprised peter has of better flame retardant used by 200 fire departments but not the forest service. you are an inventor and make the soil and answers. >> all life saving products. no luxuries.
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mere the only product that works efficiently. 10 years ago i stock my hand in it to working on another project. john: it felt cool. >> then retried to light the ice cream stick we would show into fire departments and they said you hit on something unbelievable. >> hundred have embraced enthusiastically. >> it is very unique to use direct and pitchmen door cool the fire down or create a firebreak. >> if this is better let's play with it and show it.
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then why wouldn't they use it? >> they are stuck in the mold of to use one product they he used it 50 years in the way they have. they are slow to adapt to a product that is obviously better. john: half the price, is lighter with the planes. it my 80 evaporate. what is your answer? >> that is like spray paint -- spray painting the launch share in the wind. >> they say most are suppressed from indirect.
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>> of forest fire is not like an avalanche or tsunami. it consumes fuel in front of it and the needs of fuel available to propagate. unfortunately the fire will propagate buy cbot thing in front of itself. working by the heat is done by every other country. >> in mexico we put out five fires. >> some state governments are using it to. it is the way to go. we are losing homes. this product will protect the homes. >> it is so good if i stick my hand in this it can go in
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fire and not me burned? >> absolutely. people are trapped you can give the team minutes to get you out to. i will not me hurt. let's try it. fox will not let me try inside the studio that i will not burn it down. let's go outside. maybe i will stick my hand in the fire but let this run first day at school.
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what's in there? he's about to fall over. just anything he might need. there's a box of tissues on the bottom and some band-aids; there's a whole first-aid kit, actually. mom, i can handle it from here. announcer: you don't have to be perfect... bye-bye. have a great day. that's too much pressure. have the day you have. to be a perfect parent. yes! timothy: there are two people in the world who want you more than anything. they'll make some mistakes, but they will love you more than you can ever imagine. announcer: there are thousands of children in foster care who will take you just as you are. where's tommy? i thought he was with you. no. jack! (playing twinkle, twinkle, little star.)
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don't stop! keep playing! here we go. here's the fun part! john: we are back outside the studio.
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peter cordani claims his fire retardant that the u.s. buyer -- forest service will not use i can stick my hand in here and not me hurt. what do i do? dip my hand. keep your fingers tight together. okay. my hand is not catching fire. it is creepy. >> you have a superior product but they don't use it. >> you would think they use the best technique but what you seeing q know it is not so. what i thought i knew is not true. expert said we run out of oil. no.
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we are not. premium gas is better for your car. that makes sense but it is not. you are wasting your money unless you have an unusual car. cousins should not get married. cousins can and half of the state's. women are bad drivers but then pay higher insurance rates because we are more likely to crash. do we have full moon? no. because they're more accidents and crimes that it makes people crazy. the scientist looked at the data. when there is a lot happening they noticed that and the connection. but no full moon you do not remember.
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there are so many myths i wrote a book about them but a realized the biggest and most dangerous is when we have a problem, solution comes from government. it is intuitive to think they know more so they should plan our lives. it is not true. i wrote to my new book know they can. us pursuing their own interest government fails. individual succeed. they create to prosperity. if the bureaucrats would get out of the way. that is our show. that is our show. thank you for not settin [ male announcer ] you are a business pro.
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hey, yo, check out this chef, right? right? that's so gay. that's really gay. dude, look at those pants. please don't say that. what?